Japan's Premier Pledges Tax Cuts,
But Is Criticized for Being Vague

By

Norihiko Shirouzu Staff Reporter of The Wall Street Journal

Updated July 9, 1998 12:01 a.m. ET

TOKYO -- Japanese Prime Minister Ryutaro Hashimoto appeared to finally commit Japan to permanent tax cuts Wednesday in a statement that still left financial markets -- and some people in his own party -- somewhat baffled about just how he intends to carry out the cuts.

"As the result of a permanent reform of the tax system, we would like to implement tax cuts from next year that the public would support," Mr. Hashimoto told...